About Dena Bank Personal Loan Hyderabad

Dena Bank which remarkably fulfills the needs of people in terms of providing loans and deposit is a public sector bank that was incepted on 26th May 1938 by Devkaran Nanjee and family. It was originally called as Devkaran Nanjee Banking Committee Limited. It was converted into a public limited company in the year 1939 and was one of the 13 banks that became nationalized in July 1969.

Dena Bank was formed under the Banking Companies(Acquisition and transfer of Undertakings) Act, 1970 but was regulated subject to the provisions of the Banking Regulations Act,1949, as prescribed under the specifications of section-6 of the Act; the bank can also undertake other business along with the act of lending loans to the public. It was later on that its name was transformed to Dena Bank.

Dena Bank has its headquarters located in Mumbai and is listed in both Bombay Stock Exchange and the National Stock Exchange. The bank has also established its presence in Hyderabad city as well. The bank offers distinctive categories of banking products and services such as Loans, Deposits, Investment Services, Small and Medium Enterprise. Regardless of the regular products, a personal loan is a type of loan which is extensively been preferred by people of Hyderabad and outside regions to satiate their personal wishes.

Personal loan as the name suggests is the loan amount that can be obtained for any personal purposes. The amount borrowed are repaid in the form of simpler EMIs within the given tenure. It can be obtained for education, marriage, home renovation or any other purposes. The loans are availed at reasonable interest rates by Dena Bank, provided applicants need to satisfy the eligibility requirements. The salaried applicants need to possess their eligible monthly income of ₹ 15,000. This loan can be availed under no margin provision. But the interest rates are charged on the basis of daily reducing balance. The customers can repay their EMIs on the basis of 36 installments and the mode of disbursement of their loan is made either through ECS (Electronic Clearing System) or SI(Standing Instructions) which automatically debits their Dena Bank account. The tenure for repayment of the personal loan is kept upto 3 years so that customers can suitably plan out their monthly installments which go towards availing the personal loan.

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